President Donald Trump on Thursday met with Federal Reserve Chair Jerome Powell for the first time in his second term, scolding him for not lowering borrowing costs. Powell maintained that any decisions won’t be based on the president’s demands.

The Federal Reserve chair said the two discussed "economic developments" but not his expectations for monetary policy at a White House meeting called by the president.

Powell laid down the law to Trump on the Fed's independence decision-making, but Trump doesn't seem to be getting the message.